Celsius tries to pass blame for their failures.
Uniswap is dubbed a unicorn.
And inflation data sends stocks falling, but Bitcoin just shrugs.
I'm Frankie Candles.
And this is your nightly crypto news wrap-up.
Let's get it!
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Creditors for Celsius are blaming another lending firm, Equities First,
for not paying Celsius $439 million
based on loan agreements between the two companies.
Crypto scammer Alex Mashinsky tried to put some of the blame for the collapse of Celsius
at the feet of Equities First,
saying that the firm didn't return their capital when Celsius started paying back their loans.
Hmmm?
Sounds familiar, doesn't it?
CoinDesk reports that the Texas State Securities Board objected to Celsius' plans
to sell off their stablecoin holdings as part of a payback scheme.
Looks like the pain isn't over for Mashinsky and the morons over at Celsius.
Don't be like Celsius and gamble your money.
Instead, look at the charts and know the market trends
by following Frankie Candles.
What's going on on the charts, Frank?
Thanks, Frank!
Alright, guys. Let's go ahead and do a little market watch here.
We've got Bitcoin coming in at $19,431.
Down about 0.7% on the day
Ethereum coming in at $1,328
Down about half a percent on the day
Let's go ahead and check our top movers for the day.
A bunch of altcoins up here.
We've got Terra Classic.
Guys, I don't touch Terra Classic with a 10-foot pole,
but, hey, it's up 7% on the day.
We've got Quant with a nice move up about 6% on the day.
Helium up 5% on the day
Toncoin, not sure what Toncoin is, but up about 5% on the day
And then we've got Bitcoin Cash up almost 3% on the day.
And honorable mention, Shiba Inu up 1.75% on the day
Now, real quick, guys, I do want to bring up the Bitcoin chart
because we do, on the higher timeframes, look like we are about to start setting up
in some pretty bullish patterns here.
Now, we do have a green dot printing on the 4-day
which is starting to set us up for a bullish divergence.
And with a bullish divergence on such a high timeframe
like the 4-day or the 3-day,
which we have happening right now,
these could turn out to be very bullish.
However, they're not confirmed yet,
so you want to wait for them to confirm.
There's plenty of time for them to get invalidated.
Here on the 4-day, we have 3 days left to confirm this signal.
But in the short term, guys,
we do have money flow coming out on the lower timeframes,
a 30-minute money flow crossover into the red
now peeking back into the green.
So things are all over the place right now.
But you will see, we did come right up to our level of resistance
before putting in bearish divergences on the lower timeframes.
You can see that with your higher highs and your lower highs on your momentum waves
and money flow coming out and then, boom, you get that move down.
So just a great testament to coming up to your key levels
and looking for those bearish confirmations
and being able to get those moves off of those levels.
And, guys, don't forget,
if you're looking to accumulate altcoins in this bear market,
we've worked out an amazing deal with Binance to offer the BitSquad
up to a $600 bonus when signing up with our link in the description down below.
Binance is one of our favorite exchanges here at BitBoy Crypto.
So we definitely recommend going to check them out.
And if you guys want to follow me,
it's Frankie Candles on YouTube or @Frankie_Candles on all socials.
Back to the news.
We just saw how Bitcoin is behaving.
And that's in stark contrast to what happened to Wall Street today
as the personal consumption printed red hot numbers
exceeding analysts' expectations.
The PCE Price Index is the preferred metric that the Fed uses to gauge inflation,
and its year-over-year of 0.3% has all but guaranteed a hard landing for the economy.
But it looks like the sentiment around Bitcoin has changed this time around
after Bitcoin held its price like nothing happened,
whereas Wall Street shed 200 points almost immediately.
Bitcoin inflation hedge, anyone?
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Uniswap is on the hunt for some serious cash
as the team behind the Ethereum-based dApp are courting potential investors
to the tune of around $200 million.
Uniswap is the largest DeFi exchange in crypto
and has the highest TVL with over $5 billion in various pools.
Uniswap has already gotten millions from Paradigm, USV and Coinbase
but are looking to build during this bear market.
At the time of recording,
the UNI token is down 85% off the $45 all-time high
back in May of 2021.
That's all I got.
Have a great weekend.
Be blessed.
Frankie Candles out.